Merchant Accounts are obtained by setting up a separate Corporation with a separate Website that you will use ONLY for the purpose of getting Approved for Merchant Accounts and accepting Credit Cards from your Clients. Why? Because Merchant Accounts are nearly impossible to obtain at good rates and terms when your Business is in the Financial Services Industry. Therefore, the solution is to setup a Business in the Incorporation Services and Consulting Industry, and use this Business for processing all Credit Card Transactions. As long as you explain to your Clients that your "Sister Company" will be processing the Payments, and as long as you keep your chargeback rate under 2%, then this strategy can be a reliable solution.
This separate Corporation must be a NEW Entity (It cannot be an Aged Corporation), and it must be incorporated in the same state you currently live in, with you as the President and 100% Owner. You must have CLEAN Credit with Scores over 680. If your Credit is not clean and your Scores are below 680, then use someone else who has Clean Credit as the President of this Corporation.
You can use your Home Address for this Corporation, that is not an issue, and the Corporation will be setup as an S-Corporation, which will give you the most savings on your Taxes. We will setup this New Entity for you for FREE - The only costs you must pay are Government Costs, which vary from State to State, and are typically a few hundred dollars, as well as the cost of the Phone/Fax System, which will cost $25/Month billed Monthly to your Credit Card.
The Full Website Design and Coding, Domain Name Registration, and Website Hosting are provided to you for FREE.
Once this New Corporation is ready, you will also need to open a Bank Account for it. We recommend you use Chase Bank for the Bank Account, because Chase can give you the Debit Card, Bank Letter, and Checkbook INSTANTLY when you open the Bank Account - So you don't need to wait for them to arrive in the mail, which would delay the process.
YOU HAVE THE OPTION OF OBTAINING THE 2 MERCHANT ACCOUNTS INCLUDED WITH YOUR PACKAGE. IF YOU DO NOT NEED THEM, OR WOULD LIKE TO GET THEM AT A LATER TIME, YOU CAN SKIP THEM FOR NOW.